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Mid Europa Partners and France Telecom/Orange to acquire One GmbH, the third mobile operator in Austria

21 June 2007

Mid Europa Partners and France Telecom announced today that they
agreed to acquire 100% of Austrian mobile operator One GmbH from
its existing shareholders for an enterprise value of about €1.4
billion.

This transaction, expected to close within the next three
months, will be the largest industrial leveraged buy-out in Austria
to date. Mid Europa will own a controlling stake in the company
(65%), with France Telecom owning the balance.

One GmbH is the number three mobile operator in Austria with 2
million subscribers. The Company has established itself as a
successful player in a rapidly evolving market, becoming a leader
in innovation and brand perception, in particular in urban areas.
Its high-quality network provides an excellent base for further
development of services.

Thierry Baudon, Managing Partner of Mid Europa, said: "We are
delighted to acquire this high quality asset in close partnership
with France Telecom and welcome this unique opportunity to combine
the strong industrial skills of a leading telecom operator with our
value creation focus and regional knowledge. This will be our sixth
investment in mobile telephony in the Central European region. Mid
Europa and France Telecom are determined to provide strong
shareholder support to enhance the market position and performance
of the company in the coming years. This transaction, executed by
Ioana Bendixson, Nikolaus Bethlen, Barna Papay, and Matthew
Strassberg within the Mid Europa team, is further proof of our
capacity to implement complex and innovative transactions in
Central Europe".

Nikolaus Bethlen, of Mid Europa Partners, said: "The
acquisition of One is consistent with our strategy to broaden our
Central European reach and opportunistically target leading
companies in the neighbouring markets of our core investment
region, such as Austria".

Mid Europa was delighted to be supported in this transaction by
Bruno Ducharme, former President and CEO of Telesystem
International Wireless ("TIW"), and looks forward to his continued
involvement on the company's board.